China 

China’s social credit system shows its teeth, banning millions from taking flights, trains

Millions of Chinese individuals and businesses have been labelled as untrustworthy on an official blacklist banning them from any number of activities, including accessing financial markets or travelling by air or train, as the use of the government’s social credit system accelerates.The annual blacklist is part of a broader effort to boost “trustworthiness” in Chinese society and is an extension of China’s social credit system, which is expected to give each of its 1.4 billion citizens a… Source link

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China 

China's January passenger car sales in biggest drop in seven as worries over economy, spending deepen

China’s passenger car sales fell 17.7 per cent last month from a year earlier to 2.02 million units, marking the lowest January sales since 2012.Data from the China Association of Automobile Manufacturers showed that there was a 15.8 per cent decline in total vehicle sales in China in January to 2.37 million units.It is the seventh straight monthly decline in the world’s largest car market, and adds to wider concerns over domestic consumption and economic growth.Global carmakers such as… Source link

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China 

US-China trade war bogeyman hangs over American toy industry expo

The US-China trade war has dealt a glancing blow to American toys, hitting putty and arts and crafts items, while sparing superhero action figures, toy cars and most bestsellers.Uncertainty about the trading relationship between Beijing and Washington hung over this weekend’s Toy Fair New York, dampening the festive mood as about 30,000 industry representatives surveyed the latest and greatest in play.China manufactures about 85 per cent of the toys and games sold in the United States and is… Source link

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China 

Rising protectionism, concerns about technology’s reach are politicising, delaying merger reviews, lawyers say

As concerns rise about the reach of big technology companies and China’s growing political and economic influence around the globe, cross-border mergers and acquisitions are increasingly becoming politicised, deal lawyers said.Global merger and acquisition activity hit record levels last year, but the rate of deals falling apart was at its highest since the global financial crisis, according to a new report from the law firm Freshfields Bruckhaus Deringer.“Antitrust agencies around the world… Source link

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China 

Donald Trump says US-China trade talks were ‘very productive’ after briefing

US President Donald Trump received an update on the US-China trade talks on Saturday at his Florida retreat after discussions in Beijing saw progress ahead of a March 1 deadline for reaching a deal. Trump, at his Mar-a-Lago club, was briefed in person by US Trade Representative Robert Lighthizer, Commerce Secretary Wilbur Ross, White House Chief of Staff Mick Mulvaney and trade expert Peter Navarro, White House spokeswoman Sarah Sanders said. Treasury Secretary Steven Mnuchin, economic adviser Larry Kudlow and other aides joined by phone. The White House offered no…

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China 

China’s top economists call for more action to fend off growing risks

Top Chinese economists have called for more action to keep the economy, investment and job market steady as the country faces growing risks, including from the trade war with Washington. The call came from members of the Chinese Economist 50 Forum – which includes government officials and advisers – who gathered in Beijing for their annual meeting on Saturday. On the agenda was how to stabilise the economy, foreign direct investment, employment and expectations – all issues that have become top priorities for Beijing’s ruling Communist Party this year. Held…

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China 

How could a sharp slowdown in China affect growth prospects for the rest of Asia?

The threat of a sharper-than-expected economic slowdown in China could damage Asia’s growth prospects, according to analysts. While optimism is rising over continuing trade talks between the United States and China, they have yet to reach a deal and remain far apart on key structural issues. If the conflict were to intensify, China’s challenge would be to cushion its economy from a fall. China’s latest data on foreign trade, GDP growth and the purchasing managers’ index suggests the economy will continue to slow, at least for the next month or…

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China 

Chinese drivers switch lanes, follow US motorists in buying more used cars

Chinese consumers, whose penchant for frequent upgrades created the world’s largest automobile market in a generation, are discovering of late that new is not everything. They are switching gears to buy second-hand cars, eschewing first-hand models, as economic growth in mainland China weakens to its slowest pace in decades and an ongoing trade war with the United States spills over into uncertainties about investment and job prospects. Beijing, pushing its electric vehicle market, is making it harder for start-ups to enter as it fights overcapacity Consumer confidence in second-hand cars…

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China 

Brexit deadline looms for Asia-bound ships as slow boats to China set sail from the UK

Dozens of cargo ships will set sail on Friday from the United Kingdom on journeys that will see them enter Asian ports after the United Kingdom has left the European Union. The status of these container ships is causing headaches among officials at the British Consulate General in Hong Kong, the South China Morning Post understands, ahead of the planned Brexit on March 29, with some journeys lasting as long as 48 days. The officials are concerned that ships could be “stranded at sea” in the case of a no…

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China 

China’s loans hit all-time high as banks open floodgates in January to help slowing economy

New loans in China surged to an all-time high in January, highlighting Beijing’s scramble to bolster economic activities at home amid the trade war with the United States. The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. The figure almost tripled the 1.08 billion yuan (US$159.48 million) of loans in December, while also beating the 1.6 trillion yuan (US$236.27 billion) of loans issued in January 2009 when Beijing looking to put growth on track…

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